International Consolidated Airlines Group (LON: IAG) shares surged over 5% on Friday after the company reported full-year adjusted operating profit of €4.44 billion, beating analyst expectations of €4.08 billion.
CEO Luis Gallego credited the strong results to “the quality of our businesses and effectiveness of our strategy, underpinned by the successful execution of our transformation programme across the Group.”
Revenue increased 9% year-on-year to €32.1 billion, while operating profit before exceptional items rose 26.7% to €4.44 billion.
IAG announced plans to return up to €1 billion to shareholders over the next 12 months, in addition to a final dividend of €0.06 per share, bringing the total 2024 dividend to €435 million.
The airline group also highlighted a €350 million share buyback initiated in November.
British Airways saw significant improvements, delivering €2.05 billion in operating profit, with margins rising to 14.2%. Meanwhile, IAG said Iberia and Vueling remained among the world's most punctual airlines, while IAG Loyalty reported operating profit growth of 14.4% to £420 million.
Looking ahead, IAG remains confident in sustaining high margins and strong free cash flow, with strong demand said to be continuing.
Gallego emphasised that the company is focused on “growing our network and enhancing the customer proposition.”
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